It looks like Singapore faces another two months of declining prices in residential property with the sentiments of the market remaining muted.

According to some new and recent research provided by the real estate firm Knight Frank, 2015’s first 3 months witnessed a total of 1,311 transactions of new units in the private residential sector. This makes this quarter the lowest in volume since Sol Acres EC 2008’s 4th quarter when a total of 706 new unites were sold.

Declining Property Prices Sol Acres EC

Looking at the overall picture, a fall in the price of private homes has occurred for six consecutive quarters (quarter on quarter), with a drop of 1% in 2015’s 1st quarter. The agency has stated that it is expected that there will be a further decline in prices between 3% and 4% during the entirety of 2015.

1,189 new units in the private residential sector were launched by developers in 2015’s 1st quarter. This represents a quarter on quarter decrease of 25.3%. New sales corresponded with this with a 4.7% quarter on quarter drop to 1,311 Sol Acres EC units for 2015’s 1st quarter.

The island wide drop per quarter, with regard to the launch …